VAT – DESIGNATED ZONES IN UAE

Refer link for list of Designated Zones in UAE for purpose of UAE VAT per Cabinet Decision No 59 of 2017 on Designated Zones.

https://www.tax.gov.ae/pdf/Cabinet-Decision-No-59-of-2017-on-Designated-Zones-for-the-purposes-of-the-Federal-Decree-Law-No-8-of-2017-on-Value-Added-Tax.pdf

VAT REGISTRATION NOW OPEN

Per article from Khaleej Times dated 8th October 2017:

All businesses with a turnover exceeding AED 150m should apply for VAT registration before 31st October 2017.

All businesses with a turnover exceeding AED 10m should apply for VAT registration before 30th November 2017.

All businesses that must be registered by 1st January 2018 should submit their VAT registration applications before 4th December 2017 to minimize the risk of not being registered in time for the beginning of the new year.

UAE Excise Duty Regulations issued

Refer link   http://www.tax.gov.ae/legislation.aspx

for following regulations on Excise Duty issued by UAE

Cabinet Decision No. (37) of 2017 on the Executive Regulation of The Federal Decree-Law No (7) of 2017 on Excise Tax;

and

Cabinet Decision No. (38) of 2017 on Excise Goods, Excise Tax Rates and the Method of Calculating the Excise Price.

 

Federal Law No 8 of 2017 on VAT

For complete text of the law refer to the link:

https://www.mof.gov.ae/en/lawsandpolitics/govlaws/pages/vat-law.aspx

Federal Decree Law No. (8) of 2017 on Value Added Tax has been issued, which outlines the tax scope, rate, responsibility for tax, supply of goods and services in all cases, including supply in special cases, supply of more than one component, supply via agent, supply by government entities and cases of deemed supply etc.

 

Foreigners can buy Land in Dubai World Central

The Foeigners are granted the rights to absolute ownership, without a specific time frame, of lands and properties located in land plots number (205), (206) and (207) in the Dubai World Central area (521). The decision gives foreigners the “right to benefit from and lease lands and properties in these plots for a period not exceeding 99 years.”

Kindly refer the below link

http://gulfnews.com/business/sectors/construction/foreigners-can-buy-land-in-dwc-1.1849269